{"id":382,"date":"2021-02-17T11:39:45","date_gmt":"2021-02-17T19:39:45","guid":{"rendered":"http:\/\/malat-coursesite.royalroads.ca\/lrnt521\/?page_id=382"},"modified":"2023-03-05T15:31:46","modified_gmt":"2023-03-05T23:31:46","slug":"unit-3","status":"publish","type":"page","link":"https:\/\/commons.royalroads.ca\/cals504\/schedule\/unit-3\/","title":{"rendered":"Unit 3: Risk and Opportunity Pathways"},"content":{"rendered":"

Overview<\/h2>\n

(Week 3 )<\/strong><\/p>\n

In this unit, you\u2019ll investigate the pathways linking climate change and business outcomes.\u00a0 For corporations, the financial impacts of climate change\u2014both positive and negative\u2014typically form the foundation of the business case for adaptation.\u00a0 As a result, a thorough understanding of the climate-related risks and opportunities arising for the organization is an important step in the business case planning process.<\/p>\n

Business adaptation planners typically differentiate physical risks and transition risks. Physical risks are associated with damage arising from climate change (e.g., extreme weather events like flooding or severe storms, sea level rise, wildfires, heat waves, etc.)\u00a0 Other risks can be described as transition<\/em> risks.\u00a0 These risks arise from society\u2019s response to climate change.<\/p>\n

On the opportunity side, adaptation methods can often produce benefits beyond risk reduction.\u00a0 Adaptation designed to decrease the energy or resource intensity of products and services provide the opportunity to reduce production costs.\u00a0 Improving the environmental performance of products and services can open up new markets among climate conscious clients and customers.\u00a0 Research and development aimed at process or product design can result in new intellectual property and valuable patents or can position an organization as an industry leader.<\/p>\n

For governmental and non-profit organizations (and for some progressive private organizations), salient risks and opportunities may extend beyond financial impacts to incorporate social and environmental impacts.\u00a0 Issues such as health and well-being, equality and poverty reduction, security, employment, biodiversity, etc., may be the focus of risk and benefit assessments, and mission-effectiveness may replace financial optimization as the primary objective.<\/p>\n

In this unit, you\u2019ll choose an organization as an example and analyze its climate-related risk and opportunity exposure.\u00a0 You\u2019ll explore several models for risk and opportunity discovery, including basic risk screening, geographic analysis of supply chains, and life cycle assessment. \u00a0 You\u2019ll use some basic screening processes to enumerate your case study client\u2019s risk and opportunity exposure and to select a priority for action.<\/p>\n

Based on your assessment, you\u2019ll research adaptation options that could be implemented to reduce the priority risk or capitalize on opportunity.\u00a0 The adaptation measures you identify will contribute to an online wiki that catalogues and publicly shares adaptation strategies for specific risks and opportunities (Assignment 2).<\/p>\n

Activities and Assessment<\/h2>\n